US Household debt same as in 2008...and rising!

Household debt that just hit 13 trillion...

If interest rates are going to go up you got to pay more interest on your debt. How about all that debt that the United States is taking on and even more if interest rates are going up you got to pay more on your debt. How about all that corporate debt that's been taken in? Oh, you got to pay higher interest rates. What will happen to the housing market? You're already seeing it peaking in a lot of places particularly in the commercial sectors. If interest rates are gonna go up what's gonna happen to housing? And globaly, look at all those emerging market equities that haven't really gone higher, even than the United States where they get their money from. Well they borrowed cheap dollars.

It’s been a long time coming. While overall household debt has eclipsed the previous peak in the fall of 2008, mortgages are still trailing their all-time high by 4.4%. And some places of the country, in particular, still haven’t gotten over the trauma of that crash. Since the housing crisis in 2008, the growth in mortgage borrowing has concentrated within a swath of states from Montana and North Dakota to Texas and Louisiana, where balances are up more than 10%. Meanwhile, pockets in and around California, Florida and Michigan are seeing borrowing at levels still 10% or more below 2008 levels.
source: finder.com

So if interest rates go up the dollar goes up and now you got to pay back that money that you borrowed with more of your devalued currency that will crash the emerging markets. So I don't see that happening. I don't even believe that there may be three interest rate rises this year. If we're seeing the reactions in the markets they cannot take it they need the cheap money!